UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                              _____________________

                                   FORM 10QSB

                    Under Section 12(b) or Section 12(g) of
                      The Securities Exchange Act of 1934
                      For the quarter ended March 31, 2003

                              TREND MINING COMPANY
                 (Name of Small Business Issuer in its Charter)

                 Delaware                                  81-0304651
     (State or Other Jurisdiction of                   (I.R.S. Employer
      Incorporation or Organization)                  Identification No.)


                            4881 East Shoreline Drive
                            Post Falls, Idaho 83854

                    (Address of principal executive office)

                    Issuer's telephone number: (208) 773-2250


          Securities to be registered under Section 12(b) of the Act:

                                      None
                                (Title of Class)

          Securities to be registered under Section 12(g) of the Act:

                                      None
                                (Title of Class)

================================================================================
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding  12  months  (or  for such shorter period that the registrant was
required  to  file  such  reports),  and  (2)  has  been  subject to such filing
requirements  for  the  past  90  days.

Yes  [ x ]  No  [   ]

The number of shares outstanding at March 31, 2003: 30,013,874 shares


<PAGE>
================================================================================




                              TREND MINING COMPANY
                         (AN EXPLORATION STAGE COMPANY)
                              FINANCIAL STATEMENTS
                                 MARCH 31, 2003






                            WILLIAMS & WEBSTER, P.S.
                          CERTIFIED PUBLIC ACCOUNTANTS
                        BANK OF AMERICA FINANCIAL CENTER
                          601 W. RIVERSIDE, SUITE 1940
                           SPOKANE, WASHINGTON  99201
                                 (509) 838-5111




================================================================================


<PAGE>
================================================================================

================================================================================
                              TREND MINING COMPANY



FINANCIAL  STATEMENTS

     Balance  Sheets                                                    1

     Statements  of  Operations                                         2

     Statement  of  Stockholders'  Equity  (Deficit)                    3

     Statements  of  Cash  Flows                                        5


CONDENSED  NOTES  TO  THE  FINANCIAL  STATEMENTS                        6


<PAGE>
Board of Directors
Trend Mining Company
Post Falls, Idaho

                           ACCOUNTANT'S REVIEW REPORT
                           --------------------------

We  have  reviewed  the  accompanying  balance  sheet  of  Trend  Mining Company
(formerly  Silver  Trend  Mining  Company)  (an exploration stage company) as of
March 31, 2003, and the related statements of operations and comprehensive loss,
stockholders'  equity  (deficit),  and  cash  flows for the three and six months
ended March 31, 2003 and 2002 and for the period from October 1, 1996 (inception
of  exploration  stage)  to  March  31,  2003. All information included in these
financial  statements  is  the  representation of the management of Trend Mining
Company.

We conducted our review in accordance with standards established by the American
Institute  of  Certified  Public  Accountants.  A  review  of  interim financial
information  consists principally of applying analytical procedures to financial
data  and  making  inquiries of persons responsible for financial and accounting
matters.  It  is  substantially  less  in scope than an audit in accordance with
auditing  standards  generally  accepted  in  the  United States of America, the
objective  of  which  is  the  expression  of an opinion regarding the financial
statements  taken  as  a  whole. Accordingly, we do not express such an opinion.

Based  on our review, we are not aware of any material modifications that should
be  made  to  the  accompanying  financial statements in order for them to be in
conformity with accounting principles generally accepted in the United States of
America.

The  financial  statements for the year ended September 30, 2002 were audited by
us  and we expressed an unqualified opinion on them in our report dated December
02,  2002.  We  have  not  performed  any  auditing  procedures since that date.

The  accompanying  financial  statements  have  been  prepared assuming that the
Company  will  continue  as  a  going  concern.  As  discussed  in Note 2 to the
financial  statements,  the  Company's  significant  operating  losses  raise
substantial doubt about its ability to continue as a going concern. Management's
plans  regarding  the resolution of this issue are also discussed in Note 2. The
financial  statements  do not include any adjustments that might result from the
outcome  of  this  uncertainty.



Williams & Webster, P.S.
Certified Public Accountants
Spokane, Washington
May 16, 2003


<PAGE>
<TABLE>
<CAPTION>

                                       TREND MINING COMPANY
                                  (AN EXPLORATION STAGE COMPANY)
                                          BALANCE SHEETS


                                                                      March 31,
                                                                         2003       September 30,
                                                                     (unaudited)        2002
                                                                     ------------  ---------------
<S>                                                                  <C>           <C>
ASSETS

CURRENT ASSETS
  Cash                                                               $    38,942   $        2,281
  Marketable securities                                                  122,585                -
                                                                     ------------  ---------------
    TOTAL CURRENT ASSETS                                                 161,527            2,281
                                                                     ------------  ---------------

MINERAL PROPERTIES                                                             -                -
                                                                     ------------  ---------------

PROPERTY AND EQUIPMENT, net of depreciation                               20,533           25,929
                                                                     ------------  ---------------

OTHER ASSETS
  Investments                                                                  -              250
                                                                     ------------  ---------------

TOTAL ASSETS                                                         $   182,060   $       28,460
                                                                     ============  ===============

LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES
  Accounts payable                                                   $   145,293   $      492,250
  Accrued expenses                                                        25,500          100,542
  Interest payable                                                        93,499           52,298
  Loans payable to stockholders                                        1,032,858        1,062,358
  Current portion of long-term debt                                        3,084            2,897
                                                                     ------------  ---------------
    TOTAL CURRENT LIABILITIES                                          1,300,234        1,710,345
                                                                     ------------  ---------------

LONG-TERM DEBT, net of current portion                                     9,920           12,161
                                                                     ------------  ---------------

COMMITMENTS AND CONTINGENCIES                                                  -                -
                                                                     ------------  ---------------

STOCKHOLDERS' DEFICIT
  Preferred stock,  $0.01 par value, 20,000,000 shares
    authorized; 0 and 1 share issued and outstanding, respectively             -                -
  Common stock,  $0.01 par value, 100,000,000
    shares authorized; 30,013,874 and 22,588,435 shares
    issued and outstanding, respectively                                 300,139          225,884
  Additional paid-in capital                                           5,759,692        5,012,134
  Stock options and warrants                                           1,383,042        1,383,042
  Pre-exploration stage accumulated deficit                             (558,504)        (558,504)
  Accumulated deficit during exploration stage                        (8,012,463)      (7,756,602)
                                                                     ------------  ---------------
    TOTAL STOCKHOLDERS' DEFICIT                                       (1,128,094)      (1,694,046)
                                                                     ------------  ---------------

TOTAL LIABILITIES AND
  STOCKHOLDERS' DEFICIT                                              $   182,060   $       28,460
                                                                     ============  ===============
</TABLE>


    The accompanying condensed notes are an integral part of these financial
                                  statements.


                                        1
<PAGE>
<TABLE>
<CAPTION>
                                                      TREND MINING COMPANY
                                                 (AN EXPLORATION STAGE COMPANY)
                                                    STATEMENTS OF OPERATIONS


                                                                                                                Period from
                                                                                                              October 1, 1996
                                                                                                               (Inception of
                                                Three Months      Three Months    Six Months    Six Months   Exploration Stage)
                                                    Ended            Ended          Ended         Ended              to
                                                  March 31,        March 31,      March 31,     March 31,         March 31,
                                                    2003              2002           2003          2002             2003
                                                (unaudited)       (unaudited)    (unaudited)    (unaudited)      (unaudited)
                                              -----------------  --------------  ------------  ------------  -------------------
<S>                                           <C>                <C>             <C>           <C>           <C>
REVENUES                                      $              -   $           -   $         -   $         -   $                -
                                              -----------------  --------------  ------------  ------------  -------------------

EXPENSES
  Exploration expense                                   25,852         778,883        58,979       782,953            2,823,766
  General and administrative                           113,226         145,431       230,146       280,368            2,026,037
  Officers and directors compensation                   18,454          37,157        36,908        59,407            1,279,048
  Legal and professional                                13,366           6,117        34,752        28,001            1,124,024
  Depreciation                                           2,668           2,419         5,396         3,030               43,782
                                              -----------------  --------------  ------------  ------------  -------------------
    Total Expenses                                     173,566         970,007       366,181     1,153,759            7,296,657
                                              -----------------  --------------  ------------  ------------  -------------------

OPERATING LOSS                                        (173,566)       (970,007)     (366,181)   (1,153,759)          (7,296,657)
                                              -----------------  --------------  ------------  ------------  -------------------

OTHER INCOME (EXPENSE)
  Dividend and interest income                               -               -             -             -                6,398
  Gain (loss) on disposition and impairment                  -               -             -           500             (179,854)
     of assets
  Gain (loss) on investments                            29,167               -        29,167             -              (24,605)
  Financing expense                                          -         (57,853)            -       (67,729)            (911,513)
  Interest expense                                     (19,538)        (12,442)      (41,201)      (48,411)            (181,005)
  Miscellaneous income                                       -           2,016             -         2,016               10,345
  Forgiveness of debt                                        -               -       122,354             -              564,428
                                              -----------------  --------------  ------------  ------------  -------------------
    Total Other Income (Expense)                         9,629         (68,279)      110,320      (113,624)            (715,806)
                                              -----------------  --------------  ------------  ------------  -------------------

LOSS BEFORE INCOME TAXES                              (163,937)     (1,038,286)     (255,861)   (1,267,383)          (8,012,463)

INCOME TAXES                                                 -               -             -             -                    -

                                              -----------------  --------------  ------------  ------------  -------------------
NET LOSS                                      $       (163,937)  $  (1,038,286)  $  (255,861)  $(1,267,383)  $       (8,012,463)
                                              =================  ==============  ============  ============  ===================

BASIC AND DILUTED NET LOSS PER SHARE          $          (0.01)  $       (0.05)  $     (0.01)  $     (0.07)
                                              =================  ==============  ============  ============

WEIGHTED AVERAGE NUMBER OF
  COMMON SHARES OUTSTANDING                         29,749,407      19,045,473    26,173,608    18,882,276
                                              =================  ==============  ============  ============
</TABLE>


    The accompanying condensed notes are an integral part of these financial
                                  statements.


                                        2
<PAGE>
<TABLE>
<CAPTION>
                                                      TREND MINING COMPANY
                                                 (AN EXPLORATION STAGE COMPANY)
                                          STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)


                                                                 Common Stock
                                                            ---------------------   Additional       Stock           Other
                                                              Number                 Paid-in      Options and     Accumulated
                                                             of Shares    Amount     Capital        Warrants        Deficit
                                                            -----------  --------  ------------  -------------  ---------------
<S>                                                         <C>          <C>       <C>           <C>            <C>
Balance, October 1, 1996                                     1,754,242   $ 17,542  $    663,218  $          -   $     (558,504)

Common stock issuances as follows:
  - for cash at $0.50 per share                                200,000      2,000        98,000             -                -
  - for payment of liabilities and expenses at $0.50
     per share                                                  45,511        455        22,301             -                -

Net loss for the year ended September 30, 1997                       -          -             -             -         (128,614)
                                                            -----------  --------  ------------  -------------  ---------------

Balance, September 30, 1997                                  1,999,753     19,997       783,519             -         (687,118)

Issuance of common stock as follows:
  - for mineral property at $0.50 per share                    150,000      1,500        73,500             -                -
  - for lease termination at $0.50 per share                    12,000        120         5,880             -                -
  - for debt at $0.50 per share                                 80,000        800        39,200             -                -
  - for cash at $0.20 per share                                  7,500         75         1,425             -                -
  - for compensation at $0.50 per share                          9,000         90         4,410             -                -

Issuance of stock options for financing activities                   -          -             -         2,659                -

Net loss for the year ended September 30, 1998                       -          -             -             -         (119,163)

Change in market value of investments                                -          -             -             -                -
                                                            -----------  --------  ------------  -------------  ---------------

Balance, September 30, 1998                                  2,258,253     22,582       907,934         2,659         (806,281)

Common stock issuances as follows:
  - for cash at an average of $0.07 per share                  555,000      5,550        35,450             -                -
  - for prepaid expenses at $0.33 per share                     50,000        500        16,000             -                -
  - for consulting services at an average of
     $0.20 per share                                           839,122      8,391       158,761             -                -
  - for mineral property at $0.13 per share                    715,996      7,160        82,470             -                -
  - for officers' compensation at an average of
     $0.24 per share                                           300,430      3,004        70,522             -                -
  - for debt,  investment and expenses at $0.30 per share        9,210         92         2,671             -                -
  - for directors' compensation at an average of
     $0.25 per share                                            16,500        165         3,960             -                -
  - for rent at $0.25 per share                                  1,000         10           240             -                -
  - for equipment at $0.30 per share                           600,000      6,000       174,000             -                -

Net loss for the year ended  September 30, 1999                      -          -             -             -         (716,759)

Other comprehensive loss                                             -          -             -             -                -
                                                            -----------  --------  ------------  -------------  ---------------

Balance, September 30, 1999                                  5,345,511     53,454     1,452,007         2,659       (1,523,040)

Common stock and option issuances as follows:
  - for employee, officer and director
    compensation at an average of
    $0.61 per share                                            231,361      2,314       140,446        15,820                -
  - for officers' and directors' compensation
    at an average of $1.19 per share                            11,500        115        13,615             -                -
  - for services at an average of $0.47 per share              530,177      5,302       246,333             -                -
  - for mineral property at $0.89 per share                  1,000,000      1,000        88,000             -                -
  - for investments at $0.33 per share                         200,000      2,000        64,000             -                -
  - for cash at $0.08 per share                                456,247      4,562        28,969             -                -
  - for cash, options and warrants                             100,000     10,000         2,414        87,586                -
  - for incentive fees at $0.33 per share                       65,285        653        20,891             -                -
  - for deferred mineral property acquisition
    costs at $0.13 per share                                   129,938      1,299        14,943             -                -
  - for modification of stockholder agreement
    at $0.60 per share                                         200,000      2,000       118,000        30,000                -
  - for modification of stockholder agreement                        -          -         4,262        10,379                -
  - from exercise of options at $0.12 per share              9,962,762     99,628     1,103,016       (37,524)               -

Cash received for the issuance of common stock
  warrants for 7,979,761 shares of stock                             -          -             -        10,000                -

Miscellaneous common stock adjustments                              (5)         -             -             -                -

Net loss for the year ended  September 30, 2000                      -          -             -             -       (2,186,541)

Other comprehensive income (loss)                                    -          -             -             -                -
                                                            -----------  --------  ------------  -------------  ---------------
Balance, September 30, 2000                                 18,232,776   $182,327  $  3,296,897  $    118,920   $   (3,709,581)
                                                            ===========  ========  ============  =============  ===============


                                                               Other
                                                            Comprehensive
                                                            Income (Loss)      Total
                                                            --------------  ------------
<S>                                                         <C>             <C>
Balance, October 1, 1996                                    $           -   $   122,256

Common stock issuances as follows:
  - for cash at $0.50 per share                                         -       100,000
  - for payment of liabilities and expenses at $0.50
     per share                                                          -        22,756

Net loss for the year ended September 30, 1997                          -      (128,614)
                                                            --------------  ------------

Balance, September 30, 1997                                             -       116,398

Issuance of common stock as follows:
  - for mineral property at $0.50 per share                             -        75,000
  - for lease termination at $0.50 per share                            -         6,000
  - for debt at $0.50 per share                                         -        40,000
  - for cash at $0.20 per share                                         -         1,500
  - for compensation at $0.50 per share                                 -         4,500

Issuance of stock options for financing activities                      -         2,659

Net loss for the year ended September 30, 1998                          -      (119,163)

Change in market value of investments                             117,080       117,080
                                                            --------------  ------------

Balance, September 30, 1998                                       117,080       243,974

Common stock issuances as follows:
  - for cash at an average of $0.07 per share                           -        41,000
  - for prepaid expenses at $0.33 per share                             -        16,500
  - for consulting services at an average of
     $0.20 per share                                                    -       167,152
  - for mineral property at $0.13 per share                             -        89,630
  - for officers' compensation at an average of
     $0.24 per share                                                    -        73,526
  - for debt,  investment and expenses at $0.30 per share               -         2,763
  - for directors' compensation at an average of
     $0.25 per share                                                    -         4,125
  - for rent at $0.25 per share                                         -           250
  - for equipment at $0.30 per share                                    -       180,000

Net loss for the year ended  September 30, 1999                         -      (716,759)

Other comprehensive loss                                          (79,179)      (79,179)
                                                            --------------  ------------

Balance, September 30, 1999                                        37,901        22,982

Common stock and option issuances as follows:
  - for employee, officer and director
    compensation at an average of
    $0.61 per share                                                     -       158,580
  - for officers' and directors' compensation
    at an average of $1.19 per share                                    -        13,730
  - for services at an average of $0.47 per share                       -       251,635
  - for mineral property at $0.89 per share                             -        89,000
  - for investments at $0.33 per share                                  -        66,000
  - for cash at $0.08 per share                                         -        33,531
  - for cash, options and warrants                                      -       100,000
  - for incentive fees at $0.33 per share                               -        21,544
  - for deferred mineral property acquisition
    costs at $0.13 per share                                            -        16,242
  - for modification of stockholder agreement
    at $0.60 per share                                                  -       150,000
  - for modification of stockholder agreement                           -        14,641
  - from exercise of options at $0.12 per share                         -     1,165,120

Cash received for the issuance of common stock
  warrants for 7,979,761 shares of stock                                -        10,000

Miscellaneous common stock adjustments                                  -             -

Net loss for the year ended  September 30, 2000                         -    (2,186,541)

Other comprehensive income (loss)                                 (38,314)      (38,314)
                                                            --------------  ------------
Balance, September 30, 2000                                 $        (413)  $  (111,850)
                                                            ==============  ============
</TABLE>


    The accompanying condensed notes are an integral part of these financial
                                  statements.


                                        3
<PAGE>
<TABLE>
<CAPTION>
                                                    TREND MINING COMPANY
                                               (AN EXPLORATION STAGE COMPANY)
                                   STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) (CONTINUED)

                                                              Common Stock
                                                          ---------------------  Additional       Stock
                                                            Number                Paid-in      Options and      Accumulated
                                                          of Shares    Amount     Capital       Warrants         Deficit
                                                          ----------  --------  ------------  -------------  ---------------
<S>                                                       <C>         <C>       <C>           <C>            <C>
Balance, September 30, 2000                               18,232,776  $182,327  $  3,296,897  $    118,920   $   (3,709,581)

Common stock and option issuances as follows:
  - for cash of $1.00 per share                              192,000     1,920       190,080             -                -
  - for cash and consulting services from
      options for $0.39 per share                             33,333       333        12,737        (3,070)               -
  - for services at an average of $0.92 per share             13,700       137        12,463             -                -
  - for officer and employee compensation at
      $1.13 per share                                          5,200        52         5,828             -                -
  - for payment of accrued officer's compensation
      at $1.35 per share                                      10,000       100        13,400             -                -
  - for consulting services at an average of $0.77            45,461       455        34,247             -                -
      per share
  - for directors' compensation at $0.85 per share            75,000       750        63,000             -                -
  - for modification of contract at $0.78 per share            3,000        30         2,310             -                -
  - for interest payment on contract
      at an average of $0.80 per share                        10,000       100         7,900             -                -
  - for mineral property expenses at $0.85 per share           1,000        10           840             -                -
  - for debt at $1.00 per share                              134,500     1,345       133,155             -                -

Options issued to officers, directors and employees                -         -             -       354,000                -
  for services

Warrants issued as follows:
  - for consulting services                                        -         -             -       170,521                -
  - for loan agreements                                            -         -             -       141,547                -
  - for extension of exercise period
     on outstanding warrants                                        -         -             -       608,058                -

Net loss for the year ended September 30, 2001                     -         -             -             -       (3,437,354)

Other comprehensive income                                         -         -             -             -                -
                                                          ----------  --------  ------------  -------------  ---------------

Balance, September 30, 2001                               18,755,970   187,559     3,772,857     1,389,976       (7,146,935)

Common stock and option issuances as follows:
  - for cash at $0.10 per share                            2,500,000    25,000       225,000             -                -
  - for a loan payable at $1.00 per share                     25,000       250        24,750             -                -
  - for consulting fees payable at $0.55 per share            12,536       126         6,769             -                -
  - for mineral properties at $0.70 per share              1,100,000    11,000       759,000             -                -
  - for services at an average of $0.49 per share            112,500     1,125        53,625             -                -
  - for financing expense at an average of $0.44              82,429       824        35,369             -                -
     per share

Options issued to officers, directors and employees for            -         -             -        29,528                -
  services
Warrants issued as follows:
  - for loan agreements                                            -         -             -        55,352                -

Expiration of stock options and warrants                           -         -        91,814       (91,814)               -

Interest expense forgiven by shareholders                          -         -        42,950             -                -

Net loss for the year ended September 30, 2002                     -         -             -             -       (1,168,171)
                                                          ----------  --------  ------------  -------------  ---------------

Balance, September 30, 2002                               22,588,435   225,884     5,012,134     1,383,042       (8,315,106)

Common stock issuances as follows:
  - for cash at $0.10 per share                            5,500,000    55,000       495,000             -                -
  - for consulting services at an average of $0.13         1,106,279    11,063       138,082             -                -
      per share
  - for loans payable at an average of $0.08 per share       369,160     3,692        25,808             -                -
  - for investments at $0.21 per share                       450,000     4,500        88,668             -                -

Net loss for the period ended March 31, 2003                       -         -             -             -         (255,861)
                                                          ----------  --------  ------------  -------------  ---------------
Balance, March 31, 2003 (unaudited)                       30,013,874  $300,139  $  5,759,692  $  1,383,042   $   (8,570,967)
                                                          ==========  ========  ============  =============  ===============


                                                              Other
                                                          Comprehensive
                                                          Income (Loss)      Total
                                                          --------------  ------------
<S>                                                       <C>             <C>
Balance, September 30, 2000                               $        (413)  $  (111,850)

Common stock and option issuances as follows:
  - for cash of $1.00 per share                                       -       192,000
  - for cash and consulting services from
     options for $0.39 per share                                      -        10,000
  - for services at an average of $0.92 per share                     -        12,600
  - for officer and employee compensation at
     $1.13 per share                                                  -         5,880
  - for payment of accrued officer's compensation
     at $1.35 per share                                               -        13,500
  - for consulting services at an average of $0.77                    -        34,702
     per share
  - for directors' compensation at $0.85 per share                    -        63,750
  - for modification of contract at $0.78 per share                   -         2,340
  - for interest payment on contract
     at an average of $0.80 per share                                 -         8,000
  - for mineral property expenses at $0.85 per share                  -           850
  - for debt at $1.00 per share                                       -       134,500

Options issued to officers, directors and employees                   -       354,000
  for services

Warrants issued as follows:
  - for consulting services                                           -       170,521
  - for loan agreements                                               -       141,547
  - for extension of exercise period
     on outstanding warrants                                          -       608,058

Net loss for the year ended September 30, 2001                        -    (3,437,354)

Other comprehensive income                                          413           413
                                                          --------------  ------------

Balance, September 30, 2001                                           -    (1,796,543)

Common stock and option issuances as follows:
  - for cash at $0.10 per share                                       -       250,000
  - for a loan payable at $1.00 per share                             -        25,000
  - for consulting fees payable at $0.55 per share                    -         6,895
  - for mineral properties at $0.70 per share                         -       770,000
  - for services at an average of $0.49 per share                     -        54,750
  - for financing expense at an average of $0.44                      -        36,193
     per share

Options issued to officers, directors and employees for               -        29,528
  services
Warrants issued as follows:
  - for loan agreements                                               -        55,352

Expiration of stock options and warrants                              -             -

Interest expense forgiven by shareholders                             -        42,950

Net loss for the year ended September 30, 2002                        -    (1,168,171)
                                                          --------------  ------------

Balance, September 30, 2002                                           -    (1,694,046)

Common stock issuances as follows:
  - for cash at $0.10 per share                                       -       550,000
  - for consulting services at an average of $0.13                    -       149,145
     per share
  - for loans payable at an average of $0.08 per share                -        29,500
  - for investments at $0.21 per share                                -        93,168

Net loss for the period ended March 31, 2003                          -      (255,861)
                                                          --------------  ------------
Balance, March 31, 2003 (unaudited)                       $           -   $(1,128,094)
                                                          ==============  ============
</TABLE>


    The accompanying condensed notes are an integral part of these financial
                                  statements.


                                        4
<PAGE>
<TABLE>
<CAPTION>
                                                   TREND MINING COMPANY
                                              (AN EXPLORATION STAGE COMPANY)
                                                 STATEMENTS OF CASH FLOWS


                                                                                                         Period from
                                                                                                       October 1, 1996
                                                                                                        (Inception of
                                                                        Six Months       Six Months   Exploration Stage)
                                                                           Ended           Ended              to
                                                                         March 31,       March 31,         March 31,
                                                                           2003             2002             2003
                                                                       (unaudited)      (unaudited)      (unaudited)
                                                                     -----------------  ------------  -------------------
<S>                                                                  <C>                <C>           <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net loss                                                           $       (255,861)  $(1,267,383)  $       (8,012,463)
  Adjustments to reconcile net loss to net cash used
   by operating activities:
    Depreciation                                                                5,396         3,030               43,782
    Gain/Loss on investments                                                  (29,167)            -               29,761
    Loss on disposition and impairment of assets                                    -             -              188,226
    Gain on sale of mineral property claims for securities                          -          (500)                (500)
    Gain on trade-in of property and equipment                                      -             -               (7,872)
    Gain on forgiveness of debt                                              (122,354)            -             (564,428)
    Interest expense forgiven by shareholders                                       -        13,807               23,566
    Common stock issued for services and expenses                             149,145        68,193              782,694
    Common stock issued for payables                                                -        31,895               31,895
    Common stock issued for incentive fees                                          -             -               21,544
    Common stock and options issued as compensation                                 -        29,528              721,119
    Common stock and warrants issued to acquire mineral properties                  -       770,000            1,114,873
    Stock options and warrants issued for financing activities                      -        31,536              822,257
    Warrants issued for consulting fees                                             -             -              170,521
    Investment traded for services                                                  -             -               22,539
  Changes in assets and liabilities:
    Inventory                                                                       -             -                3,805
    Accounts payable                                                         (224,603)       12,025              802,786
    Accrued expenses                                                          (75,042)            -              (48,685)
    Interest payable                                                           41,201         7,625               64,356
                                                                     -----------------  ------------  -------------------
  Net cash used by operating activities                                      (511,285)     (300,244)          (3,790,224)
                                                                     -----------------  ------------  -------------------

CASH FLOWS FROM INVESTING ACTIVITIES:
    Proceeds from sale of equipment                                                 -             -               35,126
    Proceeds from sale of mineral property                                          -             -               20,000
    Purchase of furniture and equipment                                             -             -              (41,695)
    Proceeds from investments sold                                                  -             -              101,430
                                                                     -----------------  ------------  -------------------
  Net cash provided by investing activities                                         -             -              114,861
                                                                     -----------------  ------------  -------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
    Payments on notes payable and short-term borrowings                        (2,054)       (1,325)             (10,810)
    Sale of warrants for common stock                                               -             -               10,000
    Proceeds from short-term borrowings                                             -       284,445            1,353,357
    Sale of common stock, subscriptions
      and exercise of options                                                 550,000             -            2,358,151
                                                                     -----------------  ------------  -------------------
  Net cash provided by financing activities                                   547,946       283,120            3,710,698
                                                                     -----------------  ------------  -------------------

NET INCREASE (DECREASE) IN CASH                                                36,661       (17,124)              35,335

CASH, BEGINNING OF PERIOD                                                       2,281        24,954                3,607
                                                                     -----------------  ------------  -------------------

CASH, END OF PERIOD                                                  $         38,942   $     7,830   $           38,942
                                                                     =================  ============  ===================

SUPPLEMENTAL CASH FLOW INFORMATION:
  Interest paid                                                      $            602   $       687   $            4,114
  Income taxes paid                                                  $              -   $         -   $                -

NON-CASH FINANCING AND INVESTING ACTIVITIES:
  Common stock and warrants issued to acquire mineral properties     $              -   $   770,000   $        1,114,873
  Common stock issued for acquisition of mining equipment            $              -   $         -   $          180,000
  Common stock issued for services and expenses                      $        149,145   $    68,193   $          782,694
  Common stock issued for investment                                 $         93,168   $         -   $          160,168
  Common stock issued for debt                                       $         29,500   $    31,895   $          236,737
  Common stock and options issued as compensation                    $              -   $    29,528   $          721,119
  Stock options  and warrants issued for financing activities        $              -   $    31,536   $          822,257
  Warrants issued for consulting fees                                $              -   $         -   $          170,521
  Deferred acquisition costs on mining property                      $              -   $         -   $           46,242
  Purchase of equipment with financing agreement                     $              -   $         -   $           21,814
  Investments received for mineral property                          $              -   $       500   $            5,500
  Investments traded for services                                    $              -   $         -   $           22,539
  Equipment for loans payable                                        $              -   $         -   $            4,500
</TABLE>


    The accompanying condensed notes are an integral part of these financial
                                  statements.


                                        5
<PAGE>
                              TREND MINING COMPANY
                          (AN EXPLORATION STAGE COMPANY)
                   CONDENSED NOTES TO THE FINANCIAL STATEMENTS
                                 MARCH 31, 2003

NOTE  1  -  ORGANIZATION  AND  DESCRIPTION  OF  BUSINESS

Trend  Mining Company (formerly Silver Trend Mining Company) ("the Company") was
originally  incorporated  on  September  7,  1968 under the laws of the State of
Montana  for  the  purpose  of  acquiring,  exploring  and  developing  mining
properties.  From  1984 to late 1996, the Company was dormant. In November 1998,
the  Company changed its focus to exploration for platinum and palladium related
metals.  In February 1999, the Company changed its name from Silver Trend Mining
Company  to Trend Mining Company to better reflect the Company's change of focus
to  platinum  group  metals.  The Company conducts operations primarily from its
office  in  Post  Falls,  Idaho.  The  Company has elected a September 30 fiscal
year-end.

On  March  28,  2001,  the Company reincorporated in Delaware. Under its amended
certificate  of  incorporation, Trend has authorized the issuance of 100,000,000
shares of common stock with a par value of $0.01 per share and 20,000,000 shares
of  preferred stock with a par value of $0.01, with rights and preferences to be
determined  by  the  Company's  board  of  directors.

NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES

This  summary  of  significant  accounting  policies  is  presented to assist in
understanding  the Company's financial statements.  The financial statements and
notes  rely on the integrity and objectivity of the Company's management.  These
accounting  policies  conform to accounting principles generally accepted in the
United  States  of America and have been consistently applied in the preparation
of  the  financial  statements.

Basis  of  Presentation
-----------------------
The accompanying unaudited financial statements have been prepared in accordance
with  accounting  principles  generally accepted in the United States of America
for  interim  financial statements and with instructions to Form 10-QSB pursuant
to  the  rules  and  regulations  of  the  Securities  and  Exchange Commission.
Accordingly,  they  do not include all of the information required by accounting
principles  generally  accepted  in  the  United  States of America for complete
financial  statements.  The  accompanying financial statements should be read in
conjunction  with  the  audited consolidated financial statements of the Company
included  in  the  Company's  September  30,  2002 Annual Report on Form 10-KSB.

Estimates
---------
The preparation of financial statements in conformity with accounting principles
generally  accepted  in the United States of America requires management to make
estimates  and  assumptions  that  affect  the  reported  amounts  of assets and
liabilities  and  disclosure of contingent assets and liabilities at the date of
the  financial  statements  and  the  reported  amounts of revenues and expenses
during  the reporting period.  Actual results could differ from those estimates.

Going  Concern
--------------
As shown in the accompanying financial statements, the Company has limited cash,
has  negative  working  capital,  has  no  revenues,  has incurred a net loss of
$255,861  for  the period ended March 31, 2003 and has an accumulated deficit of
$8,570,967.  These  factors  indicate that the Company may be unable to continue
in  existence  in  the  absence  of receiving additional funding.  The financial
statements  do  not  include  any  adjustments related to the recoverability and
classification  of  recorded  assets,  or  the  amounts  and  classification  of
liabilities  that might be necessary in the event the Company cannot continue in
existence.  The  Company  is  actively  seeking  additional capital.  Management
believes  that additional stock can be sold to enable the Company to continue to
fund  its  property acquisition and platinum group metals exploration activities
and  thus,  to  continue  to  operate  based  on  current  expense  projections.


                                        6
<PAGE>
                              TREND MINING COMPANY
                          (AN EXPLORATION STAGE COMPANY)
                   CONDENSED NOTES TO THE FINANCIAL STATEMENTS
                                 MARCH 31, 2003

NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Going  Concern  (continued)
---------------------------
However,  management  is unable to provide assurances that it will be successful
in  obtaining  sufficient  sources  of  capital.

Recent  Accounting  Pronouncements
----------------------------------
In  December  2002,  the  Financial  Accounting  Standards Board ("FASB") issued
Statement of Financial Accounting Standards No. 148, "Accounting for Stock-Based
Compensation - Transition and Disclosure" ("SFAS No. 148"). SFAS 148 amends SFAS
No.  123,  "Accounting  for  Stock-Based  Compensation,"  to provide alternative
methods  of  transition for an entity that voluntarily changes to the fair value
based  method  of accounting for stock-based employee compensation. In addition,
it  also  amends  the  disclosure  provisions  of  SFAS 123 to require prominent
disclosure  about  the  effects on reported net income of an entity's accounting
policy  decisions  with  respect  to stock-based employee compensation. SFAS 148
also  amends  APB  Opinion  No.  28,  Interim  Financial  Reporting,  to require
disclosure  about  the  effect  in  interim  financial information. Prior to the
issuance  of  SFAS  No.  148, the Company adopted the fair value based method of
accounting  for stock-based employee compensation. Thus, the Company's financial
reporting  will  not  be  significantly  effected  by  SFAS  148.

In  November  2002,  the  FASB  issued  FASB  Interpretation  ("FIN")  No.  45,
"Guarantor's  Accounting  and  Disclosure Requirements for Guarantees, Including
Indirect  Guarantees."  FIN  45  elaborates  on  the disclosures to be made by a
guarantor  in  its interim and annual financial statements about its obligations
under  certain guarantees that it has issued. It also clarifies that a guarantor
is  required  to recognize, at the inception of a guarantee, a liability for the
fair  value  of  the obligation undertaken in issuing the guarantee. FIN 45 does
not  prescribe  a  specific  approach for subsequently measuring the guarantor's
recognized  liability  over  the  term  of  the  related  guarantee.  It  also
incorporates,  without  change,  the  guidance  in  FASB  Interpretation No. 34,
Disclosure  of  Indirect  Guarantees  of  Indebtedness of Others, which is being
superseded.  FIN No. 45 has had no impact on the Company's financial position or
results  of  operations  as  the  Company  has  not  entered  into  any  of  the
aforementioned  transactions.

Interim  Financial  Statements
------------------------------
The  interim  financial statements for the period ended March 31, 2003, included
herein,  have  not been audited, at the request of the Company. They reflect all
adjustments,  which  are,  in  the  opinion  of management, necessary to present
fairly the results of operations for the period. All such adjustments are normal
recurring adjustments. The results of operations for the period presented is not
necessarily  indicative  of the results to be expected for the full fiscal year.

Reclassification
----------------
Certain  amounts  from  prior  periods  have been reclassified to conform to the
current  period  presentation.  These reclassifications have not resulted in any
changes  to  the  Company's  accumulated  deficit  or  net  losses  presented.

NOTE  3  -  MINERAL  PROPERTIES

The  following  describes  the  Company's  significant  mineral  properties:

Wyoming  Properties
-------------------
During  the  year  ended  September 30, 1999, the Company entered into an option
agreement  with  General  Minerals  Corporation ("GMC") to acquire the Lake Owen
Project  located  in Albany County, Wyoming. The agreement with GMC entitled the
Company  to receive 104 unpatented mining claims in exchange for15,996 shares of
common  stock,  $40,000 in cash to be paid in four quarterly payments of $10,000
and


                                        7
<PAGE>
                              TREND MINING COMPANY
                          (AN EXPLORATION STAGE COMPANY)
                   CONDENSED NOTES TO THE FINANCIAL STATEMENTS
                                 MARCH 31, 2003

NOTE  3  -  MINERAL  PROPERTIES  (CONTINUED)

Wyoming  Properties  (continued)
--------------------------------
$750,000 in exploration expenditure commitments to be incurred over a three-year
option  period.  In May 2000, the Company issued an additional 129,938 shares of
common  stock under this agreement for the acquisition of the Lake Owen Project.

The  Company  and  GMC  subsequently  entered into an amendment to the agreement
under  which  (i)  the Company issued 416,961 shares of common stock to GMC upon
GMC's  exercise  of  preemptive  rights,  (ii)  the Company agreed to perform an
additional  $15,000  of  geophysical  work  on  the  Lake  Owen Project prior to
December  31,  2000  (subsequently  modified),  (iii) the Company issued 200,000
additional  shares  and warrants exercisable until June 2002 to purchase 200,000
shares at $0.70 per share, and (iv) GMC agreed to terminate its antidilution and
preemptive  rights  as  provided  in  the  original  agreement.  The Company has
expensed $295,873 for cash paid and common stock issued to acquire this project.
The  200,000  warrants  have  expired.  See  Note  5.

The Company has obtained an additional 497 unpatented mining claims in an agreed
area  of  interest  near  the  Lake  Owen  Project.

In  March  2002, the Company issued 1,100,000 shares, valued at $770,000 in full
satisfaction  of  cash  commitments  relating  to  exploration  activities.  The
issuance of these shares resulted in the full ownership of the Lake Owen Project
property.

The  Company  also  staked  and  claimed  six claims known as the Albany Project
during  the  year  ended  September 30, 1999. These claims are located in Albany
County,  Wyoming.

The Company additionally staked and claimed 42 unpatented mining claims known as
the Spruce Mountain claims, 159 unpatented mining claims known as the Centennial
West  claims  (dropped on September 1, 2002), 34 unpatented mining claims at the
Douglas  Creek  property  and 121 unpatented mining claims known as the Keystone
property.  These  claims are also located in Albany County, Wyoming. As of March
31,  2003,  the  Company  owns a total of 804 unpatented mining claims in Albany
County,  Wyoming.

Montana  Properties
-------------------
In  March 2000, the Company entered into a three-year lease and option agreement
under  which it had the right to acquire a 100% interest in the Intrepid claims.
Upon  entering  into  the agreement, the Company paid the claim owners $5,800 in
cash  and  100,000  shares of common stock. In the Company's acquisition of this
option,  it  expensed  $97,140  for  cash  paid  and  common  stock  issued.

Under  the  agreement,  the  Company  was obligated to incur minimal exploration
expenditures  of  $10,000  by  September  30, 2001, $15,000 by March 4, 2002 and
$15,000  by  March  4,  2003. In addition, the Company must make advance royalty
payments  of $10,000 by March 4, 2001, $25,000 by March 4, 2002 and $35,000 each
year  thereafter.  In  March  2001,  the Company and the claim holders agreed to
replace  the March $10,000 advance royalty payment with a $9,000 payment due May
11,  2001.  In connection with this agreement, the Company issued to the holders
3,000  shares  of  common  stock  on  March  11, 2001 with an aggregate value of
$2,340.

Following  this  agreement, the Company was unable to make the May 11th payment.
On  May  24,  2001,  the  claim  holders agreed to a modification to continue to
extend this payment initially to June 5th, but this payment was also not made as
scheduled.  The Company issued an additional 1,000 shares with value of $850 and
paid  $1,000  in  cash  per  the  terms  of  the modification, which reduced the
outstanding  $9,000


                                        8
<PAGE>
                              TREND MINING COMPANY
                          (AN EXPLORATION STAGE COMPANY)
                   CONDENSED NOTES TO THE FINANCIAL STATEMENTS
                                 MARCH 31, 2003

NOTE  3  -  MINERAL  PROPERTIES  (CONTINUED)

Montana  Properties  (continued)
--------------------------------
payment  to  $8,000.  By  September  30,  2001, the Company abandoned all of its
interests  in  the  Intrepid  claims.

Other properties in Montana include the Vanguard Project and the McCormick Creek
Project,  which is in Missoula County. In 2000, the Company staked 121 claims in
regards  to  the  Vanguard  Project  and  explored  and staked 36 claims for the
McCormick Creek Project. By September 30, 2001, the Company had abandoned all of
its  interests  in  the  Vanguard  Project.

During  the  year  ended  September 30, 2000, the Company located and staked 211
claims  in  Stillwater County Montana. During the year ended September 30, 2001,
172  claims  were  staked and added, and 304 claims were abandoned. In September
2002,  the  Company  abandoned  all  of  its  interests in the Stillwater County
claims.

During  the year ended September 30, 2002, the Company entered into an agreement
in  which the Company acquired a 100% interest in four mineral leases covering a
total  of  920  acres  in  Sanders  County,  Montana.

Oregon  Property
----------------
During  the year ended September 30, 1999, the Company entered into an agreement
in  which  it  would  explore  and  stake five claims located in Jackson County,
Oregon  known  as the Shamrock property. All transactions were completed and the
Company  acquired  title  to  these  claims.  On  September 1, 2002, the Company
abandoned  all  of  its  interests  in  the  Jackson  County  claims.

Nevada  Properties
------------------
During  the year ended September 30, 1999, the Company entered into an agreement
whereby  Mountain  Gold Exploration would explore and stake claims, transferring
title to the Company upon completion thereof. Transactions were finalized for 13
claims  known  as the Hardrock Johnson Property located in Clark County, Nevada.

During  March of 2000, the Company located and staked 31 unpatented claims known
as the Willow Springs claims. These claims are located in Nye County, Nevada. On
September  1,  2002,  the  Company  abandoned all of its interests in the Willow
Springs  claims.

In  1979,  the  Company  acquired  the  Pyramid  Mine,  which  consists  of five
unpatented  lode mining claims within the Walker Indian Reservation near Fallon,
Nevada. Pursuant to an impairment analysis performed by the Company, the Company
wrote  off  its  $70,333  investment in the Pyramid Mine, effective prior to the
inception  of  the  Company's  exploration  stage.

The  Company sold the Pyramid Mine claims on November 12, 2001 to Calumet Mining
Company,  a  related  party, for 50,000 shares of common stock of Calumet Mining
Company.  This  company's stock was subsequently acquired by Western Goldfields,
Inc.  on  a  1  for 2 basis. As a result, the Company now holds 25,000 shares of
Western  Goldfields,  Inc.  The  Company  retained  a  1.5%  net  smelter return
production  royalty  interest  in  the  Pyramid  Mine.  See  Notes  6  and  8.

California  Properties
----------------------
In mid-2000, the Company acquired 79 unpatented mining claims, known as the Pole
Corral property, in Tehema County, California. On September 1, 2002, the Company
abandoned  all  of  its  interests  in  the  Pole  Corral  property.


                                        9
<PAGE>
                              TREND MINING COMPANY
                          (AN EXPLORATION STAGE COMPANY)
                   CONDENSED NOTES TO THE FINANCIAL STATEMENTS
                                 MARCH 31, 2003

NOTE  3  -  MINERAL  PROPERTIES  (CONTINUED)

Canadian  Property
------------------
In August 2000, the Company entered into an agreement whereby Spectra Management
Corporation  would,  on  behalf  of  the  Company, explore and stake five claims
comprising  about  67,000  acres  in northern Saskatchewan. This property is now
known  as the Peter Lake Claims. The Company abandoned these claims in September
2002.  In  December  2002,  the  Company  restaked  these  claims.  Exploration
commitments  totaling $268,000 must be completed by December 2004 as a condition
of  acquiring  these  claims.

Idaho  Property
---------------
The  Company  owned  the Silver Strand Mine in Idaho until it was disposed of in
July  2001.  The  Company  initially  entered  into an agreement with New Jersey
Mining  Company ("New Jersey") whereby the Company received 50,000 shares of New
Jersey's  restricted  common  stock  in exchange for New Jersey's opportunity to
earn  a  100%  interest  less  a net smelter royalty in the Company's unpatented
claims  in  Kootenai  County,  Idaho.  In July 2001, the Company quitclaimed any
remaining interest in the Silver Strand property to Mine Systems Design, Inc. in
exchange  for  cancellation of $22,539 of outstanding invoices due Mine Systems.
The  Company  also transferred 50,000 shares of New Jersey stock to Mine Systems
Design  as  part  of  this  settlement.

NOTE  4  -  COMMON  STOCK

During  the period from September 30, 2002 and ended March 31, 2003, the Company
issued  5,500,000  shares of common stock for $550,000 cash, 1,106,279 shares of
common  stock  valued  at  $149,145  for  consulting services, 450,000 shares of
common  stock  for  investments  valued at $93,168, and 369,160 shares of common
stock  for  loans  payable  of  $29,500.

NOTE  5  -  RELATED  PARTY  TRANSACTIONS

Investments
-----------
In  January  2003,  the Company exchanged 450,000 shares of its common stock for
18,334 shares of common stock in Cadence Resources Corporation and 35,000 shares
of  common  stock  in  Western  Goldfields, Inc.  The chief financial officer of
Trend  Mining  Company  is  also an officer of Cadence Resources Corporation and
Western  Goldfields,  Inc.


                                       10
<PAGE>
                              TREND MINING COMPANY
                          (AN EXPLORATION STAGE COMPANY)
                   CONDENSED NOTES TO THE FINANCIAL STATEMENTS
                                 MARCH 31, 2003

NOTE 5 - RELATED PARTY TRANSACTIONS (CONTINUED)

Shareholder  Loans  Payable
---------------------------
The  following  is  a listing of shareholder loans outstanding at March 31, 2003
and  September  30,  2002,  respectively:


                                             March 31,   September 30,
Shareholder                         Date        2003          2002
-------------------------------  ----------  ----------  --------------
Electrum LLC                      11/6/2000  $   35,000  $       35,000
                                  12/4/2000     100,000         100,000
                                 12/18/2000      50,000          50,000
                                  1/26/2001      50,000          50,000
                                  3/15/2001      50,000          50,000
                                  4/10/2001      50,000          50,000
                                   5/4/2001      50,000          50,000
                                   6/4/2001      50,000          50,000
                                   7/3/2001      85,000          85,000
                                  1/31/2002     150,000         150,000
                                             ----------  --------------
                                                670,000         670,000
                                             ----------  --------------

LCM Holdings, LLC                10/26/2001      50,000          50,000
                                  11/1/2001      10,000          10,000
                                 11/15/2001      30,000          30,000
                                 11/28/2001      29,445          29,445
                                   5/7/2002      60,000          60,000
                                  5/22/2002      35,000          35,000
                                  6/14/2002      18,413          18,413
                                             ----------  --------------
                                                232,858         232,858
                                             ----------  --------------

Berger                            8/28/2001      90,000          90,000
                                  10/2/2001      10,000          10,000
                                             ----------  --------------
                                                100,000         100,000
                                             ----------  --------------

Buchanan                           1/8/2002      30,000          30,000
                                             ----------  --------------

Crosby                            8/14/2001           -          20,000
                                             ----------  --------------

Hoffman                            9/7/2001           -           9,500
                                             ----------  --------------

Total shareholder loans payable              $1,032,858  $    1,062,358
                                             ==========  ==============



The loans from Electrum, LCM Holdings, LLC, Berger and Buchanan bear interest at
8%  per  annum  and  are  due  upon the Company's completion of a private equity
placement  and  concurrently  and  proportionally  with  any  amounts  repaid to
Electrum LLC or any others having provided similar loans to the Company.


                                       11
<PAGE>
                              TREND MINING COMPANY
                          (AN EXPLORATION STAGE COMPANY)
                   CONDENSED NOTES TO THE FINANCIAL STATEMENTS
                                 MARCH 31, 2003

NOTE 5 - RELATED PARTY TRANSACTIONS (CONTINUED)

Employment  Agreement
---------------------
In  July  2000, the Company entered into an employment agreement with John Ryan,
then  the chief financial officer, secretary and treasurer of the Company, under
which  Mr.  Ryan  was to receive 3,000 shares per month of Trend common stock as
compensation  for  his  services.  When Mr. Ryan resigned in December 2000, this
agreement  was  terminated.  In  July 2001, Mr. Ryan was again designated as the
Company's chief financial officer, secretary and treasurer. A revised employment
agreement  was  reached  under which Mr. Ryan received 7,500 shares per month of
the  Company's common stock, and such agreement was in effect until August 2002.
Beginning in September 2002, Mr. Ryan's agreement was revised to $3,000 cash per
month.

NOTE  6  -  INVESTMENTS

The  Company's  securities  investments are classified as trading securities and
are recorded at fair value as of the balance sheet date, with the change in fair
value  during  the  period  included  in  earnings.

In  January  2003,  the  Company  acquired  shares  of  common  stock in Cadence
Resources Corporation and Western Goldfields, Inc. See Note 5.

NOTE  7  -  FORGIVENESS  OF  DEBT

In  the  quarter  ending  March  31, 2003 the Company and a vendor finalized the
settlement of outstanding invoices totaling $272,354 in exchange for $150,000 in
cash.  This  resulted  in  forgiveness of debt of $122,354, which is recorded as
other  income.

NOTE  8  -  COMMITMENTS  AND  CONTINGENCIES

Lease  Agreements
-----------------
During the period ended December 31, 2000, the Company entered into a three-year
lease  for  its  executive offices in Coeur d'Alene, Idaho. In January 2002, the
Company  decreased  its  occupancy  space  and  effectively  lowered its monthly
payment  from  $2,656  to $1,422. As of September 1, 2002, the Company no longer
occupies  this  office  space.

In  July  2000, the Company entered into a lease agreement for additional office
facilities  in  Reno,  Nevada.  As  of September 30, 2001, the Company no longer
occupied  these facilities in Nevada and stopped payment under the lease. On May
23,  2002,  a  Nevada court entered a judgment by default against the Company in
the  total  amount of $18,574 that bears interest at 18% per annum until paid in
full. This amount has been recorded in accounts payable on the Company's balance
sheet.

On  August  2,  2001,  the  Company signed a month-to-month rental agreement for
storage  and office space in Dalton Gardens, Idaho. The monthly payment is $425.

Consulting  Agreements
----------------------
Mr. Ryan has an agreement with the Company, as discussed in Note 5.

In  October  2002,  the  Company  reached a consulting agreement with Mr. Howard
Schraub. Under the agreement, the Company will issue 50,000 shares of restricted
common  stock  per  month  plus  additional  shares  of  restricted common stock
totaling  $10,000  in value per month for one year to the consultant in exchange
for  services  rendered.


                                       12
<PAGE>
                              TREND MINING COMPANY
                          (AN EXPLORATION STAGE COMPANY)
                   CONDENSED NOTES TO THE FINANCIAL STATEMENTS
                                 MARCH 31, 2003

NOTE 8 - COMMITMENTS AND CONTINGENCIES (CONTINUED)

Consulting  Agreements  (continued)
-----------------------------------
In  March  2003,  the  Company  reached a fee agreement with National Securities
Corporation  ("NSC"). If NSC is successful in procuring investor funds on behalf
of  the  Company,  a  fee in the amount of 13% of the funds invested will become
payable  to  NSC  in  cash, and 15% of the funds invested will become payable in
warrants.

Mineral  Properties
-------------------
In  order  to  retain the Peter Lake Claims in Saskatchewan, Canada, the Company
must  fulfill  exploration  commitments  totaling  $268,000  by  December  2004.

NOTE  9  -  CONCENTRATION

The Company has significantly relied on Mr. Thomas Kaplan and various associated
entities  of  Mr.  Kaplan  for  operating  capital.

NOTE  10  -  SUBSEQUENT  EVENT

In  April  2003, the Company issued 150,000 shares of common stock to Mr. Howard
Schraub  for  consulting  services  performed.  At  March  31,  2003, $25,500 is
included  in  accrued  expenses  to reflect the fair value of these shares owed.


                                       13
<PAGE>
ITEM  2.     MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OR  PLAN  OF  OPERATIONS

     Our  losses for the three-month period ended March 31, 2003, were $163,937.
These  losses  increased  our accumulated deficit since inception of the current
exploration  stage  to $8,012,463. Our total loss since inception of the company
is  $8,570,967.  Our  third  quarter  loss is due primarily to general operating
expenses  of  $113,226.

     Our  operating  cash  at  the  end  of the quarter totaled $38,942. We have
inadequate  cash  to  continue current operations through the end of the quarter
ended  June,  2003. Such operational uncertainty raises substantial doubts about
our  ability  to  continue  as  a  going  concern  without  raising  significant
additional  capital.

     Since  February  2001,  we  have  borrowed funds principally from the major
shareholder  of the Company to fund the minimum activities of the Company. As of
December  31,  2002,  we have borrowed approximately $670,000 from Electrum LLC,
Our  largest  stockholder  pursuant  to  certain  financial  arrangements.  LCM
Holdings,  LDC,  also  a  major stockholder of the Company has loaned a total of
$232,858  to  the  Company.  In  total  the Company has borrowed $1,032,858 from
parties  affiliated  with  Tom  Kaplan,  our  major  shareholder.

     Pursuant to an agreement made as of January 30, 2002, the Company agreed to
adjust  the  conversion  terms  of the loans provided by Electrum and affiliated
parties.  This  adjustment  also  included  redefining the terms of the warrants
previously  granted  to  Electrum  and  others. The loans from Electrum LLC, LCM
Holdings,  and  several  other  affiliated  shareholders,  as  a  result of this
Agreement,  are now convertible into "units" of the Company at $0.50 per unit. A
unit  is comprised of one share of our common stock and a warrant to acquire one
share  of  common  stock  at  an  exercise  price  of $1.00, exercisable through
September  30,  2006.  In  connection  with  such  loan agreements, we have also
granted  1,032,858  warrants to purchase shares of our common stock at $1.00 per
share  that  begin  to expire September 30, 2006, and we have extended for three
years  through  September 30, 2006 the expiration date of additional warrants to
acquire  7,979,761  shares.

     We must seek additional financing from the public or private debt or equity
markets  to  continue our business activities. Under our Delaware certificate of
incorporation,  we  have  100,000,000  authorized shares of common stock and are
authorized  to  issue 20,000,000 shares of preferred stock. We currently have no
preferred  shares  issued  and  outstanding.

     There  can be no assurance that Electrum or others will continue to advance
funds  to  us  or  that  our  efforts  to  obtain  additional  financing will be
successful. Further, there can be no assurance that additional financing will be
available  on  terms  acceptable  to  the  Company.

     IF  WE  ARE  UNABLE  TO RAISE ADDITIONAL CAPITAL, WE MAY HAVE TO SUSPEND OR
--------------------------------------------------------------------------------
CEASE OPERATIONS WITHIN THE NEXT THREE MONTHS.
----------------------------------------------


<PAGE>
                              TREND MINING COMPANY
                         (AN EXPLORATION STAGE COMPANY)
                                 MARCH 31, 2003


     During July and August 2001, we implemented plans to close the Reno, Nevada
office  and  reduce  staff. Since then we have continued to review the Company's
mineral  properties  and the expenses associated with holding such properties as
well  as  their  exploration  and development. We have implemented plans towards
further  cost-cutting  and  a  focus  on the mineral properties which we view as
having  the  greatest  potential  to  host  economic  mineralization.

     Our  primary  business objective for the next three months will be to focus
on  raising  sufficient capital to retain the mineral properties we now control.
In  August,  2003  we will have to make land payments of about $90,000 to retain
control  of  these  properties.  At this time we have inadequate capital to make
these  payments,  and  if  we  fail  to  raise  such capital and do not make the
payments, we will lose the primary assets of the Company and will likely suspend
operations.  We  have  allocated  approximately  $25,000  per month to cover our
general  and  administrative  expenses,  accounting  and  legal fees, as well as
payments  made  to  creditors  pursuant  to  payment  arrangement  plans.

     WE  HAVE  INSUFFICIENT  CAPITAL  TO  REMAIN  IN  BUSINESS  THROUGH  THE END
     ---------------------------------------------------------------------------
OF THE NEXT QUARTER (JUNE, 2003) UNLESS WE RAISE ADDITIONAL CAPITAL.
--------------------------------------------------------------------



FORWARD-LOOKING  STATEMENTS
---------------------------

     This  Form  10-QSB  contains  forward-looking  statements  that  involve
substantial  risks and uncertainties. Investors and prospective investors in our
common  stock  can  identify  these  statements by forward-looking words such as
"may,"  "will,"  "expect,"  "intend,"  "anticipate,"  believe,"  "estimate,"
"continue"  and  other similar words. Statements that contain these words should
be read carefully because they discuss our future expectations, make projections
of our future results of operations or of our financial condition or state other
"forward-looking"  information.

     We  believe  that it is important to communicate our future expectations to
our  investors.  However, there may be events in the future that we are not able
to  predict  accurately  or control. The factors listed in the section captioned
"Management's  Discussion  and  Analysis  or  Plan of Operation," as well as any
cautionary  language  in  this  Form  10-QSB,  provide  examples  of  risks,
uncertainties  and events that may cause our actual results to differ materially
from  the  expectations we describe in our forward-looking statements. Investors
and  prospective  investors  in  our  common  stock  should  be  aware  that the
occurrence  of the events described in the "Management's Discussion and Analysis
or  Plan  of  Operation"  section and elsewhere in this Form 10-QSB could have a
material  adverse  effect  on  our  business,  operating  results  and financial
condition.


<PAGE>
                              TREND MINING COMPANY
                         (AN EXPLORATION STAGE COMPANY)
                                 MARCH 31, 2003


PART  II

ITEM 1. LEGAL PROCEEDINGS.

     Several  vendors  of  the  Company  have threatened to take legal action to
recover  sums  owed  to  them.  Additionally,  one  vendor,  Nevada  Southwest
Investments  LLC,  dba Reno Business Park, filed and obtained a judgment against
the  Company  in  the Second Judicial District, Washoe County, Nevada to collect
the amount of $17,608.29 due under a rental lease agreement for office space the
Company chose to vacate. The Company did not contest this action since it had no
basis to do so. This court judgment, unless paid, may ultimately result in liens
against  the  Company  bank  account,  other  Company  assets,  or  the  mineral
properties  held  by the Company. Such liens may have the impact of reducing the
capability of the Company to remain as a going concern. The Company is currently
negotiating  with  the  counsel  of  the  creditor  to  make  Suitable  payment
arrangements  to  pay  this  judgment  over  time.

     Additionally, both the State of Idaho and the Internal Revenue Service have
threatened  to  impose  liens against the Company bank account, other assets, or
the  Company mineral properties unless the Company adheres to a rigorous payment
schedule  imposed  by  these  entities  to repay past due withholding taxes. The
Company has to date complied with such payment arrangements but may be unable to
comply  with  such  schedules in the future due to funding constraints, in which
case,  actions  by these entities may severely hamper the ability of the Company
to  maintain  itself  as  a  going  concern.


ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS.

RECENT  SALES  OF  UNREGISTERED  SECURITIES
-------------------------------------------

     We had 30,013,874 shares of common stock issued and outstanding as of March
31,  2003.  The  issuances  discussed  under  this  section  are  exempted  from
registration  under  Rule 506 of the Securities Act ("Rule 504") or Section 4(2)
of  the  Securities  Act  ("Section  4(2)"),  as provided. All purchasers of the
issued securities acquired the shares for investment purposes only and all stock
certificates  reflect  the appropriate legends. No underwriters were involved in
connection  with  the  sales  of  securities  referred  to  in  this  section.

     In  general,  under  Rule  144,  a person who has beneficially owned shares
privately acquired directly or indirectly from us or from one of our affiliates,
for  at  least one year, or who is an affiliate, is entitled to sell, within any
three-month  period,  a number of shares that do not exceed the greater of 1% of
the  then  outstanding shares or the average weekly trading volume in our shares
during the four calendar weeks immediately preceding such sale. Sales under Rule
144  are  also subject to certain manner of sale provisions, notice requirements
and the availability of current public information about us. A person who is not
deemed  to  have  been  an  affiliate at any time during the 90 days preceding a
sale,  and  who has beneficially owned restricted shares for at least two years,
is  entitled to sell all such shares under Rule 144 without regard to the volume
limitations,  current public information requirements, manner of sale provisions
or  notice  requirements.


<PAGE>
                              TREND MINING COMPANY
                         (AN EXPLORATION STAGE COMPANY)
                                 MARCH 31, 2003


     Common  Stock
     -------------

     During  the  period  from  September 30, 2002 and ended March 31, 2003, the
Company  issued  5,500,000  shares  of common stock for $550,000 cash, 1,106,279
shares  of  common  stock  valued  at  $149,145 for consulting services, 450,000
shares  of common stock for investments valued at $93,168, and 369,160 shares of
common  stock  for  loans  payable  of  $29,500.

     Options
     -------

     None  issued  during  the  reporting  period.  See  Note 5 of the "Notes to
Financial  Statements  for  a  further discussion and explanation of the options
outstanding.

     Warrants
     --------

     None  issued  during  the  reporting  period.  See  Note 5 of the "Notes to
Financial  Statements  for  a further discussion and explanation of the warrants
outstanding.


<PAGE>
                              TREND MINING COMPANY
                         (AN EXPLORATION STAGE COMPANY)
                                 MARCH 31, 2003


ITEM  3.  DEFAULTS  UPON  SENIOR  SECURITIES.

          None.

ITEM  4.  SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS.

          None.

ITEM  5.  OTHER  INFORMATION.

          None.

ITEM  6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K.

          (a)     Exhibits

          None.

          -------------

          (b)     Reports  on  Form  8-K.

               None


<PAGE>
                              TREND MINING COMPANY
                         (AN EXPLORATION STAGE COMPANY)
                                 MARCH 31, 2003


SIGNATURES

     In  accordance  with  the  requirements of the Exchange Act, the Registrant
caused this Report to be signed on its behalf by the undersigned, thereunto duly
authorized.

TREND  MINING  COMPANY

Dated:  May 16, 2003
By:     /s/  Kurt J. Hoffman
        -------------------------
        Kurt J. Hoffman
        President and Chief Executive Officer
        (Principal Executive Officer)


Dated:  May 16, 2003
By:     /s/  John P. Ryan
        -------------------------
        John P. Ryan
        Chief Financial Officer


<PAGE>
          CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED
            PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


In connection with the accompanying 10-QSB of Trend Mining Company for the
period beginning January 01, 2003 and ending March 31, 2003, Kurt J. Hoffman,
Chief Executive Officer, and John P. Ryan, Chief Financial Officer of Trend
Mining Company, hereby certify pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to my knowledge,
that:

     (1)  such Form 10-QSB of Trend Mining Company, for the period beginning
          January 01, 2003 and ending March 31, 2003, fully complies with the
          requirements of section 13(a) or 15(d) of the Securities Exchange Act
          of 1934; and

     (2)  the information contained in such Form 10-QSB of Trend Mining Company
          for the period beginning January 01, 2003 and ending March 31, 2003,
          fairly presents, in all material respects, the financial condition and
          results of operations of Trend Mining Company



                                               /s/Kurt  J.  Hoffman
                                               -------------------------
                                               Kurt  J.  Hoffman
                                               Chief  Executive  Officer


                                               /s/John  P.  Ryan
                                               -------------------------
                                               John  P.  Ryan
                                               Chief  Financial  Officer


<PAGE>